Tag Archive for: Reata Pharmaceuticals

The European Commission on Monday approved Biogen’s Skyclarys (omaveloxolone) for the treatment of the rare genetic disorder Friedrich’s ataxia in patients aged 16 years and above.

The layoffs, set to take effect in late November, will impact about a third of Reata’s headcount. The workforce reduction comes just months after Biogen’s $7.3 billion Reata buy.

“The good thing is that, at least now, there is this huge interest in primary mitochondrial diseases, so more companies are working in the space,” says Jan Smeitink, CEO of Khondrion. “It’s also good to notice that different companies have compounds working on different targets.”

Shares of Reata Pharmaceuticals Inc. soared 175% to hit a one-year high in early trading on Wednesday, after the U.S. Food and Drug Administration (FDA) approved its rare disease drug and ended years of uncertainty over its future.

There are currently no disease-modifying treatments for Friedreich’s ataxia. That could change when the FDA makes a decision about Reata Pharmaceuticals’ omaveloxolone on Feb. 28.

The past year has seen incremental victories in the neurodegenerative disease space with the approval of Amylyx’s Relyvrio, in ALS and Biogen and Eisai’s Leqembi (lecanemab) in Alzheimer’s disease. Despite these regulatory milestones, there are still hurdles to overcome, with delivery across the blood-brain barrier topping the list.